Sivia Legal Services Blog

Can a Non-U.S. Citizen Form an LLC in Illinois?

Posted by Sivia Law on May 24, 2018 10:00:00 AM

The vast majority of businesses in the state of Illinois - a full 98 percent - are smaller companies.

That means we field many questions from aspiring entrepreneurs about how to form a limited liability company, or an LLC.

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Cost of Starting A Business in Illinois

Posted by Sivia Law on May 22, 2018 1:00:00 PM

The cost of starting a business in Illinois depends on many factors.

However, you should consider a few key areas to ensure that your business is successful.

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How To Create An LLC in Illinois and Missouri

Posted by Sivia Law on May 18, 2018 10:00:00 AM

It’s easy to start your own business.

In fact, if you’re located in Illinois or Missouri, you have the ability to create a limited liability corporation (LLC) all by yourself.

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Live The 4 Hour Work Week Lifestyle: Start Your Own Business

Posted by Sivia Law on May 16, 2018 10:00:00 AM

It sounds like a dream.

If you start your own business, you can reap the many benefits associated with entrepreneurship, such as being your own boss, making more money, and being more flexible with your time.

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The Difference Between A Manager-Managed vs. Member-Managed Business

Posted by Sivia Law on May 10, 2018 1:00:00 PM

One of the most frequently asked questions we received has to deal with manager-managed vs. member managed businesses.

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Legitimate Business: Taking Your Hobby To The Next Level

Posted by Sivia Law on May 8, 2018 10:00:00 AM

For some time, you’ve probably invested energy and resources into a hobby.

It could be time to think about whether your hobby is a legitimate business.

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3 Benefits of Incorporating

Posted by Sivia Law on May 4, 2018 10:00:00 AM

When you start a business, you have several options to choose from to determine your business structure.

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6 Things To Consider When Forming A Missouri DBA

Posted by Sivia Law on May 2, 2018 1:00:00 PM

If you’ve wanted to start a business in Missouri, now is one of the best times to do so.

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What You Need to Know Before You Create a Legal Business Plan

Posted by Sivia Law on Apr 27, 2018 10:00:00 AM

Fantastic! You’ve got an idea for a new business that you think will really take off. This kind of entrepreneurial spirit is what helps the American dream work.

The harsh reality, though, is that most businesses don’t make it. Approximately 20 percent of businesses survive their first year. Half of them are gone after five years, and only one-third see their 10-year anniversary. 

Starting a new business is tough.

While prosperity isn’t guaranteed, creating a legal business plan can help you decide whether your business will be successful. 

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The Ins and Outs of Creating a Business Partnership Agreement

Posted by Sivia Law on Apr 20, 2018 10:00:00 AM

Great news: You have a found a partner to go into business with, and you both have a grand vision for your product or service.

Now, it’s time to form a partnership and a business partnership agreement.

“A partnership is the relationship existing between two or more persons who join to carry on a trade or business,” says the IRS. “Each person contributes money, property, labor, or skill, and expects to share in the profits and losses of the business.”

Partnerships must file an annual information return to report on income, losses, and more from its operations. In addition, income tax passes through the partnership to the partners, who include income or loss on their own tax returns.

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